Alchemy Pay, the leading provider of payment solutions bridging fiat and cryptocurrency, has joined forces with Rupiah Token (IDRT), the most widely adopted stablecoin for the Indonesian Rupiah. IDRT token is now supported for use on Alchemy Pay’s fiat-crypto ramp payment system, which facilitates transactions using Visa and MasterCard in 173 countries, allows for numerous domestic transfers, and supports popular mobile wallets in emerging markets. By leveraging Alchemy Pay’s extensive network comprising over 300 fiat payment channels, the purchase of IDRT token is able to go beyond cards and access local mobile wallets.
IDRT operates on a 1:1 basis with the fiat currency Indonesian Rupiah, allowing users to directly utilize Indonesian Rupiah on the Ethereum, BNB Smart Chain and Polygon Network. Serving as the initial Ethereum-based token (ERC-20), IDRT aims to mirror the value of the Indonesian Rupiah. By being built on the Ethereum Blockchain, IDRT inherits favorable attributes such as speed, security, and transparency. Presently, IDRT can be used for trading purposes on various exchanges like Pintu, Binance, Uniswap, PancakeSwap and more.
Earlier in February, Alchemy Pay and PT Berkah Digital Pembayaran, a prominent fintech firm which is known primarily for BDPay, jointly revealed their successful acquisition of an Indonesian license issued by the Central Bank of Indonesia, which can be found by searching ‘Berkah Digital’. The license grants the two entities permission to engage in remittances and facilitate the transfer of funds, while also assisting in reducing the operating costs of payment services.
This collaboration with IDRT serves as an add-on for Alchemy Pay’s efforts to expand its business presence in Indonesia. It not only enhances the utility of IDRT tokens but also contributes to the global adoption of innovative payment solutions that promote financial inclusivity and empower individuals worldwide. By becoming usable on Alchemy Pay’s fast-growing payment network, IDRT can now be spent by users around the globe in a number of scenarios.
About IDRT
Rupiah Token (IDRT) is a stablecoin that is backed 1:1 by fiat Indonesian Rupiah. IDRT is available on multiple blockchains namely Ethereum (ERC-20), BNB Smart Chain (BEP-20) and Polygon Network. We are the first and most adopted Rupiah stablecoin in Indonesia. The way Rupiah Token works, in a nutshell, is that our user can simply deposit 1 Rupiah Token for 1 fiat Rupiah and withdraw the Rupiah Token back to the fiat Indonesian Rupiah at any time via the mobile wallet app (https://pintu.co.id). We can always guarantee that the Rupiah Token is backed by fiat Indonesian Rupiah in our bank account and we are regularly audited by an independent auditor to prove such collateralization.
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Developers of Web3 platforms, and dApps with interest in integrating Alchemy Pay’s ramp solution can contact via email ramp@alchemypay.org or the website https://alchemypay.org/contact
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